The Russian Ministry of Industry and Trade recently formulated a list of restricted exported products, planning to impose restrictions on steel, copper, and aluminum exports if necessary.
However, the Ministry of Economic Development thought that aluminum and copper should be excluded from the list to avoid negatively impacting United Company RUSAL (RUSAL) and Russian Copper Company (RCC).
According to an expert, Russia is highly dependent on foreign markets for aluminum and copper. Therefore, the above-mentioned export restriction was expected not to lower Russia’s dependence on foreign markets but push up domestic metal prices instead if the international prices rise.
Russian Ministry of Economic Development opposes restrictions on copper & aluminum exports
3 Jun 2021 15:37 reported by Joy Liu
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